Omani-Indian forum explores opportunities in various fields

MUSCAT: The Omani-Indian Investment Forum was held on Thursday at Shangri-La Barr Al Jissah Resort under the theme ‘ Investment Opportunities and Investments in the Sultanate especially in Special Economic Zone in Duqm (SEZD) and industrial areas’.

The opening ceremony was held under the auspices of Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry.

The forum, organised by the Chartered Accountants Institute in India, Muscat branch in coordination with Oman Financial and Banking Studies College, aimed at enhancing the position of the Sultanate as an attractive business destination for Indian investment companies and advising Indian companies of the business and investment environment, as well as the competitive edges of the Sultanate.

Mohs e n bin Khamis al Balushi, Adviser at the Ministry of Commerce and Industry said that the forum highlighted the available investment opportunities in the Sultanate as well as a number of heavy and IT related industries due to the competitive edges of India in these areas.

He added that the forum helped in convincing a number of Indian companies to establish industrial centres here for assembling products and re-exporting them to the various market. He noted that the value of the reciprocal trade between the two countries is constantly growing as India has become an important basic partner for the Sultanate.

On his part, Hilal bin Hamad al Hasani, CEO of the Public Establishment for Industrial Estates, said that the Indian investments at the industrial estates in the Sultanate constitute about 20 per cent of the total investment in these estates.

There are modern investments in the 7th stage in Sohar Industrial Area, estimated at more than RO 350 million, that include steel, foodstuff and other industries as well.